OREANDA-NEWS. August 03, 2009. The first reinsurance treaty was concluded on 15th September, 1992 with Krasnoyarsk insurance Company Vozrozhdenie. There were accepted insurance risks of space satellite, which is by the way still on service and can be ranged as record, regarding the time of use on the earth orbit, reported the press-centre of Transsiberian Reinsurance Corporation.

In 1993 the management of the Company moved to Moscow where there was opened European Bureau branch. In 1996 Transsiberian Re joined "Russian P&I Pool" and was awarded with medal “For contribution to the development of business cooperation among CIS insurers” at Dagomys conference of CIS and Baltic insurers. Next year, North-Western Bureau branch was opened in Petrozavodsk (Karelia) which moved to Saint-Petersburg in 2000.  

For the purpose of geographical extension and business development in 1998 Transsiberian Re representatives attended for the first time annual meetings at Baden-Baden (Germany), and a year after, Monte-Carlo Rendezvous. Since 1999 the company has acquired retrocessional cover at the World Leading Reinsurers. 

In 2002 Transsiberian Re was assigned with the highest security A++Re rating by the Russian Expert Ra rating agency, and in 2003 the Corporation became Laureate of the Major All-Russia Award “Russian National Olympus” in nomination “Finance. Investments”. In 2005 Transsiberian Re became Laureate of the Russian Award “Golden Salamander” as the best Reinsurer. Finally, in 2006 International Bureau office was opened in European Union in Prague (Czech Republic).  

It’s not an exaggeration to say that at the present moment Transsiberian Re is one of the leaders of the Russian reinsurance market. At that, the company has achieved these results by its own forces and knowledge. The Corporation neither joined any holdings nor wrote business with captive insurers, working only on the open competitive market.

Transsiberian Re leadership is confirmed by the opinions of our colleagues and business partners. According to the survey of the Reactions magazine – one of the most reputable publication in the sphere of insurance (results were published in May 2008), Transsiberian Re was admitted the best reinsurance company of Russia and CIS countries.

In 2003, incomings from abroad exceeded for the first time those from Russian insurers in Transsiberian Re portfolio. But the real business abroad is impossible without international ratings. In 2005, we started cooperating with the world largest rating agency – A.M. Best. Transsiberian Re was the first Russian reinsurance company which received international financial strength rating and credit ratings from two world largest agencies – Fitch and A.M. Best. 

At the present moment the Corporation accepts risks from 46 countries of the world. According to the strategic plan till 2012 the Corporation set quite ambitious goal – to become the reinsurer of the international level. Irina Postnikova, Transsiberian Re CEO is sure that despite the world financial crisis and global economic slowdown we will manage to achieve this goal.